14Shares  Share  Tweet  Pin  Email  Share Guess when and how many interest rate reductions will Fed Chair Jerome Powell do in 2024. Whoever answers correctly will receive dinner with me and my wife on Long Island or NYC (assuming she wants to go, lol) and a special surprise bonus! If there are multiple individuals with the correct answers, then there will be a run-off. The final drawing will be held in the last week of December 2024. Send your answers to Phil@TurnKeyRealEstate.Com                                    Have you jumped back on the fence with interest rates contributing to and creating an unaffordable environment?  You are not alone in this unfortunate circumstance where so many consumers have been stuck. More important is the lack of choices in our historic low inventory di... 02/02/2024

You did your search and traveled to a multitude of homes to find your “next place to call home.” Finally, after almost 6 months and 500+ miles, you settled on your first home, a 3 bedroom and 1 ½ bath place.  You went through and performed all of your negotiations, through the haggling, stressful, and tense moments; treading lightly on eggshells, and doing whatever was necessary and required that you had to do (of course legally, lol) to have an agreed and accepted price.  However, you’re somewhat happy but not ecstatic with your broker, as they weren’t really at the “top of their game” when it came to all the details and minutiae.  Then you ordered your inspection and had it completed. In the meantime, you still haven’t hired an attorney and are asking your broker or salesperson for su... 01/29/2024

GREAT NECK LONG ISLAND HOME SOLD!Lawrence & Sheila Agranoff REALTORS®, SOLD this Great Neck Long Island Vintage Colonial home in Nassau County New York,  and we can SELL yours too!We Listed It! We Showed It! We SOLD It! Lawrence & Sheila Agranoff Cell: 631-805-4400WE SELL LONG ISLAND REAL ESTATE ~ Let's Connect To Sell Yours Too! 01/29/2024

If you are a seller, investor, purchaser, or even potential tenant, are you being properly advised and educated sufficiently enough, or seeking out someone to consult you about the current challenging market? Do you know enough about how to strategize and position yourself as a seller? If an investor, are you doing your due diligence when looking and finding a quality property and knowing the short and long-term R.O.I.? As a purchaser who has dropped out for a multitude of reasons, have you thought outside the box and your need and desire for creative and cutting-edge ways to keep you in the market? Even if you are looking for a rental, are you open to learning how you might potentially be in a position to purchase by listening and learning various strategies and methods of ways that y... 01/18/2024

    Home Business All Things Real Estate: Protecting your home while there or away is... Business All Things Real Estate: Protecting your home while there or away is critical By Philip A Raices- January 7, 2024 0   As I am writing this past week’s column our first snow of the winter is happening, hooray! Now that our weather is getting a bit colder as winter should be, I think back to 15-20 years ago when I was showing clients some homes on the North Shore of Long Island. It had been extremely frigid during that week. We approached the home and opened the screen door and with my very acute hearing, I heard something that I always feared and dreaded during the winter season, the unfortunate gushing sound of water inside someone’s home. As I opened the door it was the shock of seeing it ... 01/11/2024

     Phil's Home News   Philip A. Raices Turn Key Real Estate 516-647-4289 Cell 516-829-2205 Office Fax eFax Coming Soon! www.Li-RealEstate.Com   Phil@TurnKeyRealEstate.ComNYS License # 31RA0874656 NYS Corporate License # 109909392 Quick Quiz Each month I'll give you a new question.Just reply to this email for the answer.When was The Beatles first album recorded? Reply to this email Ask the Agent What Is a Comparative Market Analysis (CMA)? A real estate agent prepares a comparative market analysis (CMA) report for a buyer or seller, to determine the estimated value of a home. The report evaluates three or more sold properties that most closely proximate the characteristics of the home that is being valued Homes that have sold within the past six months will contribute to giving the bes... 01/03/2024

ht     Phil's Home News The purpose of this uplifting newsletter is to provide you with a change of scenery through heartwarming stories, and insightful advice as well as give you a smile for a few minutes. I hope you enjoy!If you know of any local families or organizations that are especially in need at this time, please give me a call or reply to this email. I will do my best to spread the word!   Philip A. Raices Turn Key Real Estate 516-647-4289 Cell 516-829-2205 Office Fax eFax Coming Soon! www.Li-RealEstate.Com   Phil@TurnKeyRealEstate.ComNYS License # 31RA0874656 NYS Corporate License # 109909392 Links You Can Use Now Boosting Creativity January is International Creativity Month, which means we’re looking at all the ways boosting your creativity works wonders for work and play. H... 01/03/2024

Many of our clients are having challenging times finding a home that fits their specific “needs and wants.”The lack of available inventory is the greatest problem for those who are seriously searching and are qualified to buy.  For those who either need to sell or want to sell, the fear of not finding their “next place to call home” is one of the main reasons for not listing.I have experienced this exact situation as a broker with one particular family that although their place is listed, will not close until they find their next domicile beforehand.This has caused buyers not to consider their place.  Of course, current interest rates are an additional and important factor for many others not being able to purchase; even though rates are down over 1% since October.However, prices are st... 01/02/2024

It was challenging, impossible, and difficult for buyers and renters.  Mortgage rates being as high as they were with 11 increases over 18 months have caused a lot of pain and disruptions to so many looking for their first place to call home.Its severity affected a good portion of purchasers who had less than stellar opportunities whether it was from battling a bidding war environment not seen before; as well as a lack of choices from a historically diminished low inventory.Due to these bidding war situations, prices kept escalating in this artificially created atmosphere with fear of missing out rearing its ugly head for those who became way too emotional in the buying process; as if it was the end of the world if they didn’t get something.Due to this untenable situation, this inevitab... 12/29/2023

Right now for some everything looks rosy.  Home prices, although not increasing at the same excessive pace, are still going up on Long Island.  But in other locations around the U.S., prices have moderated, especially where much of the new construction has occurred.But for a majority of others, things may look downright challenging and dismal with our national debt at $32 trillion, credit card debt increasing to a stifling level month after month, and student debt of $1.77 trillion owed by 45.3 million borrowers, down from 45.4 million students in the second quarter of 2021.  But 0.63% of student loans were 90 days or more delinquent as of the second quarter of 2023, down from 4.55% in the second quarter of 2022.President Biden tried his best to assist in a small way by allowing $10,000... 12/09/2023

I have been sitting back, and not doing a huge amount of business lately.  However,  I have been enjoying my kids and grandchildren.  Having a 9 1/2, 7 1/2, 2 1/2, and finally a grandson via my daughter-in-law and my son in March 2024, our name will continue for hopefully another 80+ years into the future. I have been focusing more on building my "memories" bank account as opposed to my financial bank account.  Many of us are in the fall and late fall of our lives and as we all know, none of us are getting out alive!  So outside of money and possessions, which we will not be taking with us, what else is there?  Happy times, memories and even "not so good" times to be remembered and hopefully with our good soul, that we will take with us when all is said and done! Over a lifetime, there ... 12/01/2023

I have been practicing and performing real estate for over 42 years. My first purchase was in 1977, a small home of about 1200 sq. ft that we resided in on North Road in the north section of Great Neck.The second property we purchased was a 2-family on Steamboat Road in 1981.Although we sold both properties and moved on to other investments, I can still remember how easy and simple it was back then, to be able to apply for a mortgage. Both were with Emigrant Savings and Loan, which is no longer in business.Our second loan was completed mostly by phone (by house phone that is).This is in stark comparison to “jumping through hoops” today with the massive amount of paperwork.  I imagine one day the lenders just might ask what brand of toilet paper that we use, LOL.  I guess they are just d... 12/01/2023

I may be 2 days early, but I want to wish all our Active Rain members and their families and friends a wonderfully Healthy, Happy, and enjoyable Thanksgiving.We don't know what we have to be thankful for until one sees and realizes what chaos is occuring here and around the globe, The Ukraine, Israel and other areas and the unfortunate collateral death and destruction that is happening.Hopefully, one day the human race as a whole will wake up and smell the coffee and learn how to communicate peacefully, respect each other and stop the killing and try to "Live and Let Live." 11/21/2023

I just returned from last week’s NAR Convention and my Global Business and Alliance Committee meetings in Anaheim, CA.  It doesn’t matter how many years you may be involved in the industry, there is always something to learn and absorb as well as refreshing one’s knowledge to clear out the cobwebs and go over information and topics pertinent to your business.With the advancement of new technology and applications, especially with the assistance of AI, this will have a major impact on all facets of life, especially business.  Simplifying one’s daily routine with the use of cutting-edge applications along with old-fashioned service and keeping in contact with clients on a regular basis allows one to do business in a much more streamlined and efficient manner.Participating in NAR Conventio... 11/21/2023

As we grow older, challenges await us that some will prepare for but so many will not.  Staying healthy and active should be tantamount in everyone’s mind to be able to stay in place.But as studies and statistics have shown the U.S. is the most unhealthy, obese, and overweight country on the face of the globe.  Being the wealthiest and most powerful nation, or I say the “Great-EST Society” that there has ever been, somehow doesn’t match up to our current physical condition compared to other European and Asian nations.It’s similar to looking at an individual who may appear to look healthy from the outside, but inside there are major issues that apparently we know about, but unfortunately do nothing to alleviate those conditions.Many would prefer to be independent and stay in their homes.... 11/10/2023

We still have the largest economy on the globe and are still the Promised Land for the immigrants who desire to come here legally, whether for education, jobs or just to relocate permanently.  However, we also have a very serious illegal immigration problem and it is not being addressed in the proper fashion as both parties are at loggerheads in how to resolve and deal with the issues.The people who are able to immigrate here see the vast array of possibilities and opportunities that they cannot obtain sufficiently in their own countries.  Our doors seem to be always open for those who have the money and capabilities to invest in a vast pool of quality real estate, whether they are residential or commercial.The 2023 Profile of International Transactions in U.S. Residential Real Estate w... 11/10/2023

There are a multitude of reasons for moving.  From what my clients tell me and what I have read, it is to downsize and lower the overall cost of living.  Some want to be closer to their children and grandchildren.  Some don’t want to deal with the regular interior and exterior maintenance of owning a house.Others want to reduce their responsibilities and when going on vacation, want to turn the key to their apartment and just leave and not worry about roof leaks, broken pipes, or anything else involved in the upkeep of a home. Dealing with snow that may or may not happen this winter is a factor as well as the high cost of heating bills.Some will absolutely have to move due to health issues, finances, loss of job, or business failures.  In this situation, the possibility of foreclosure m... 11/10/2023

Over the years I have experienced various situations where major and minor problems in which the lack of COs (certificate of occupancy) delayed or even lost deals.  The problem is every time you perform an upgrade or improvement, you need to determine do you need a permit.Some will have done things 10, 20, or even 30 years ago, with or without a permit, but without finalizing the process and not realizing the future ramifications when it comes to selling their home.  Let’s face it. We don’t want to pay any more real estate taxes than we already pay, so adding space or any other item that might increase them without a permit or a final CO is the reason we do it.I can understand and sympathize with everyone who takes that route as we are being over-taxed, especially today.  But it can com... 10/20/2023

Our thoughts and prayers go out to the Israeli people in this most challenging and difficult time facing the deliberate and planned attack by Hamas on their country.Need I say more as to how our market has progressed nine months into 2023?  Unless your head is buried in the sand, don’t read a paper or listen to the news, then you just might not care or are just oblivious to the dramatic changes that have occurred.Mortgage rates have increased 11 times since early 2022 and we could possibly see one more increase by the end of the year.  Employment numbers were up a staggering 336,000 in September when most economists and the Fed were predicting less than 200,000 jobs would be created.  Unemployment was steady at 3.8%.  Our economy is a lot stronger and more resilient than most would have... 10/16/2023

Homes, condos, and coops are still selling due to the market demand.  It all depends on how you are pricing your property.  There are some places where bidding wars are still a common occurrence as the needs and wants of some buyers remain paramount regardless of the interest rates and prices.Cash is still king and some buyers are putting down a large sum of money, so interest rates are not as worrisome for them as it is for others, especially those who have left the fray and decided to wait to save more money or leave the area entirely.The question arises as to when this tumultuous environment will become stable once again, where inventory is normal and interest rates become affordable.  The answer is who knows?  What has to really occur is for prices to come down to earth, inventory h... 10/06/2023